Martin said the new owners are spending about $500,000 on remodeling to turn the first two floors of the five-story, 14,000-square-foot building across from the Wildhorse Saloon into an entertainment venue. The first floor will be for live karaoke, the second for another music venue, and the top three are to be converted to condos.

“We want other merchants and building owners on Second Avenue to be proud to have us as neighbors,” Martin said, referring to some complaints related to the previous tenants.

For several years, previous building owner Eddie Eanes of Florida operated Buck Wild Saloon, which included four bars that operated under various themes, from the property. Buck Wild ran into problems with the state’s Alcoholic Beverage Commission and Metro Police over not having enough food for sale and reports of intoxicated patrons.

After that bar folded, another group opened Bar One 50 One at the site. Martin said Bar One 50 One’s lease was terminated in part because that nightspot didn’t have liability insurance.

Martin said the name of the new nightspot planned for the space will be announced later.

New Skull's planned

Separately, Martin and his business partner David Wileman are working to reopen nightspot Skull’s Rainbow Room within the next two months at a building in Printers Alley that has been vacant since 1999.

Martin said it would be a speakeasy nightclub with live entertainment every day and night.

The original Skull’s Rainbow Room closed after longtime Printers Alley nightclub owner David “Skull” Schulman was robbed and killed in 1998.